Türkiye cuts Russian oil imports after Ukrainian strikes in Black Sea
Photo: Oil tanker (GettyImages)
Türkiye cut its purchases of oil from Russian ports in July and is preparing to reduce imports further in August. The decline was driven by export disruptions at Russia’s Black Sea terminals following Ukrainian drone attacks, Reuters reports.
Türkiye cuts Russian oil imports
In July, Türkiye received around 900,000 tons of oil from Russian ports, compared to 1.2 million tons the previous month.
At the same time, shipments via the Black Sea were cut in half, falling to more than 300,000 tons from 600,000 tons in June, according to LSEG data.
The export disruptions came amid intensified Ukrainian attacks on Russia’s oil infrastructure.
In July, shipments through the Caspian Pipeline Consortium (CPC) terminal fell by around 20%, while loadings at the port of Novorossiysk were unstable.
Supplies could fall further in August
According to LSEG data, Türkiye could receive around 200,000 tons of oil from Russian Black Sea ports in August.
Two tankers carrying Kazakh KEBCO crude are expected to arrive. Meanwhile, no shipments of CPC Blend or Urals crude to Türkiye have been scheduled so far.
Traders say Türkiye has begun diversifying its crude oil sources to offset disruptions in the Black Sea.
In August, the country also plans to make rare oil imports from Brazil and Guyana.
Türkiye has previously criticized attacks on Russia-linked tankers near its waters, saying such incidents pose risks to shipping safety and regional trade.
It should be noted that since the beginning of August, Ukrainian drones have attacked 10 of Russia’s 34 major oil refineries, or nearly one-third of facilities largely associated with the country’s biggest oil companies. According to Bloomberg, the latest strikes have increased pressure on fuel supplies in Russia.
